Global Logistic Properties Ltd.
will lease nearly 1 million square feet of warehouse space in China, continuing the company’s expansion in the country.

The real estate logistics firm, part-owned by Singapore’s sovereign-wealth fund, said in July it was setting up a $7 billion infrastructure fund for its logistics business in China to meet rising demand for warehouse space amid continued growth in domestic consumer spending. The fund said it aimed to develop 140 million square feet over four years. GLP holds a 56% stake in the fund.

The company’s expansion in China comes as the country’s economy is experiencing some turbulence, with growth slowing and some manufacturers relocating to countries with lower labor costs. Still, GLP China President Kent Yang said growing domestic consumption continues to drive demand for the company’s facilities.

Three new leases account for the 1 million square feet of space GLP announced Thursday.